IndoAgri - Point & Figure Analysis
Below is the Point and Figure ( P&F ) chart of IndoAgri
The three horizontal blue lines ( A, B, C ) enable Horizontal Count. The target for Horizontal Count C is $4.30 ( this will be the multi-years long term target ).
The thick blue vertical line enable Vertical Count to measure breakout target. The target for Vertical Count is $3.10 ( this will be the multi-months mid term target ).
Point and Figure is a pure price charting method that does not take time & volume into consideration. This apply to the price target too where there is no way to determine the time line. Obviously, don't expect prices to rally from the current closing to $3.10 or $4.30 in a straight line or anytime too soon. It will take time and probably a bumpy ride but eventually will get there unless sentiment change ( major reversal ).
More about Point and Figure can be found here.The thick blue vertical line enable Vertical Count to measure breakout target. The target for Vertical Count is $3.10 ( this will be the multi-months mid term target ).
Point and Figure is a pure price charting method that does not take time & volume into consideration. This apply to the price target too where there is no way to determine the time line. Obviously, don't expect prices to rally from the current closing to $3.10 or $4.30 in a straight line or anytime too soon. It will take time and probably a bumpy ride but eventually will get there unless sentiment change ( major reversal ).
Labels: Stock Pick
posted by Market Wizards @ April 06, 2010
Comments: 0
